Income Tax

TDS not deductible merely on book entry 2 min read

• Income Tax

TDS not deductible merely on book entry

Manager 10 years ago

The Income Tax appellate Tribunal in ITA NO.2603/Mum/2011 (Income Tax Officer vs. M/s Pipavav Shipyard Ltd.) dismissed the appeal of the revenue. It was an... Read More

How to Face an Income Tax Raid? 2 min read

• Income Tax

How to Face an Income Tax Raid?

Manager 10 years ago

The term “Raid” in the law of Income Tax in India is an interaction with the Income Tax Department which leads to chaos and panic.... Read More

TDS Certificates to be issued According to according to Section 203 of the Income Tax Act read with the Rule 31 of the Income Tax Rules. 2 min read

• Income Tax

TDS Certificates to be issued According to according to Section 203 of the Income Tax Act read with the Rule 31 of the Income Tax Rules.

Manager 10 years ago

The Income Tax department in a circular dated 9.4.13 has declared that it has become mandatory for all deductors to issue the TDS certificates for... Read More

Filing of Income Tax Returns by NRIs 2 min read

• Income Tax

Filing of Income Tax Returns by NRIs

Manager 10 years ago

31st July is the due date for filing income tax returns for any financial year. If you are a Non Resident Indian (NRI) and trying... Read More

PENAL PROVISIONS UNDER INCOME TAX ACT 2 min read

• Income Tax

PENAL PROVISIONS UNDER INCOME TAX ACT

Manager 10 years ago

PENAL PROVISIONS UNDER INCOME TAX ACT Provisions under section 221: Section 221(1) of the Act states that if a person fails to pay tax i.e.... Read More

Which LIC Policy Is Best For Me? 2 min read

• Income Tax

Which LIC Policy Is Best For Me?

10 years ago

Before you decide to buy any LIC policy you are supposed to ‘check and balance’ the financial stability you can get from different policies. The... Read More

The procedure for the computation of book profit as per section 115JB should be followed strictly 3 min read

• Income Tax

The procedure for the computation of book profit as per section 115JB should be followed strictly

Akanksha 10 years ago

The ITAT Chennai in the case of the Deputy Commissioner of Income Tax, Corporate Circle-I, Coimbatore vs. M/s. Western India Cashew Company Pvt. Ltd., 2015... Read More

Can penalty under section 234E of the Income Tax act be waived of under any circumstances? 2 min read

• Income Tax

Can penalty under section 234E of the Income Tax act be waived of under any circumstances?

10 years ago

If a tax payer is charged with a penalty according to the provisions of section 234E of the Income Tax Act, the same has to... Read More

All you wanted to know about PAN Card 3 min read

• Income Tax

All you wanted to know about PAN Card

Aditijh 10 years ago

What PAN card is? PAN card is like a driving license or an aadhar card which bears a unique number. This unique number is a... Read More

Capital Gain on depreciable assets held for more than three years should be treated as long term capital gain for determining the rate of tax 4 min read

• Income Tax

Capital Gain on depreciable assets held for more than three years should be treated as long term capital gain for determining the rate of tax

10 years ago

Recently in the case of M/s. Smita Conductors Ltd. vs. the Deputy Commissioner of Income Tax, ITA No. 4004/Mum/2011 by a judgment it has been... Read More